Ignoring Greek woes, the benchmark BSE Sensex on Thursday regained by 160 points - after taking a day's breather -- to 27,895.97 on rally in realty and banking shares as Prime Minister Narendra Modi launched three projects with a major thrust on housing.
The index recorded its ninth rise in last 10 sessions due to short-covering from operators in view of the last day of the futures and options June contract. Crisis was seen intensifying in Greece after the nation and its international credit were far away from a deal to avert a default.
Meanwhile, launching Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission, and Housing for All, Modi said urbanisation should be viewed as an opportunity and urban centres as growth engines. Stocks of mortgage lenders were in good demand as HDFC rose by 2.20 per cent, lIC Housing gained 0.55, while Dewan Housing surged 2.41 per cent.
“Announcement of three flagship schemes related to housing tops a bright day for equity market,” said Anand James, Co Head Technical Research Desk at Geojit BNP Paribas. The Sensex resumed lower at 27,660.22 and dropped further to 27,635.76 on initial selling pressure.
However, it recovered later to 27,968.75 on fresh buying before ending at one-month high of 27,895.97, showing a gain of 166.30 points or 0.60 per cent.c